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||Page|
|---|---|
|Reference and administrative detailsofthe Company, its Trustees and advisers|1|
|Trustees' report|2-9|
|Independent auditors' report on the financial statements|10 - 12|
|Statementoffinancial activities|13|
|Balance sheet|14 - 15|
|Statementofcash flows|16|
|Notes to the financial statements|17 -31|





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|**Trustees**|A Dafoe|
|---|---|
||DAmodei|
||R Donnelly|
||G Hadfield|
||E Horvitz|
|**Company registered**||
|**number**|13485176|
|**Charity registered**||
|**number**|1201294|
|**Registered office**|Courtenay House|
||Pynes Hill|
||Exeter|
||EX2 5AZ|
|**Key management**|L Hammond (Acting Executive Director)|
|**personnel**|A Bradbury (Chief Operating Officer) (resigned 16 June 2023)|
|**Independent auditors**|Griffin|
||Chartered Accountants|
||Courtenay House|
||Pynes Hill|
||Exeter|
||EX2 5AZ|





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|Activity|Status(On31.1222)|Goal(s)|
|---|---|---|
|Createour grantmakingprocess||2b|
|Run a firstgrnntrnakil1ground|fn Progiress|2b,1b|
|Hire aChief OpeJ:atiogOlificer||la|
|Hire· a secondResearchAnal:•tst||la|
|HireaPeopl'e&Oper.ationsManageJ||1a|
|Onboardan :in.it ialsetofadvisors|!n Pmgress|1b|
|Res,umeourpubliconlinesemirna.rseirie·s|On,Hofdl|1b,2a|
|Runa ooopernti.'•·eAI oonttest|ln Pmgiress|1b,.2a|
|P.un aoooperati;1,•e.A.Iworl<shop|0111,hlokll|1b, 2a|
|Runa.retreatJsurrmmerschool|VnPmgiress|1b.2a|
|Run awork.shop,on.A.Ifor iinstituti•OlflS|InPirogiress|1b.2a|
|Run asym,pos:rumon1:ear111,ingit.loron,peirate|||



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|||**Unrestricted**|**Total**||
|---|---|---|---|---|
|||**funds**|**funds**|_Total_|
|||**Period ended**|**Period ended**|_funds_|
|||**31December**|**31December**|_Yearended30_|
|||**2022**|**2022**|_June 2022_|
||**Note**|£|£|£|
|**Income from:**|||||
|Donations and legacies|4|**2,423,939**|**2,423,939**|_413,991_|
|Charitable activities|5|||_4,734_|
|Investments|6|**4**|**4**||
|**Total income**||**2,423,943**|**2,423,943**|_418,725_|
|**Expenditure on:**|||||
|Charitable activities|8|**91,509**|**91,509**|_292,021_|
|**Total expenditure**||**91,509**|**91,509**|_292,021_|
|**Net movementinfunds**||**2,332,434**|**2,332,434**|_126,704_|
|**Reconciliationoffunds:**|||||
|Total funds brought forward||**126,704**|**126,704**||
|Net movementinfunds||**2,332,434**|**2,332,434**|_126,704_|
|**Total funds carried forward**||**2,459,138**|**2,459,138**|_126,704_|





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||||**31**|||
|---|---|---|---|---|---|
||||**December**||_30June_|
||||**2022**||_2022_|
||**Note**||£||£|
|**Fixed assets**||||||
|Tangible assets|12||**778**|||
||||**778**|||
|**Current assets**||||||
|Debtors|13|**2,263,484**||_850_||
|Cash at bank andinhand||**201,436**||_128,175_||
|||**2,464,920**||_129,025_||
|Creditors: amounts falling_due_within one||||||
|year|14|**(6,560)**||_(2,321)_||
|**Net current assets**|||**2,458,360**||_126,704_|
|**Total assets less current liabilities**|||**2,459,138**||_126,704_|
|**Net assets excluding pension asset**|||**2,459,138**||_126,704_|
|**Total net assets**|||**2,459,138**||_126,704_|
|**Charity funds**||||||
|Restricted funds||||||
|Unrestricted funds|||**2,459,138**||_126,704_|
|**Total funds**|||**2,459,138**||_126,704_|





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||**Period**||
|---|---|---|
||**ended31**|_Year ended_|
||**December**|_30June_|
||**2022**|_2022_|
||£|£|
|**Cash flows from operating activities**|||
|Net cash used in operating activities|**74,299**|_128,175_|
|**Cash flows from investing activities**|||
|Purchaseoftangible fixed assets|**(1,038)**||
|**Net cash (used in)/providedbyinvesting activities**|**(1,038)**||
|**Cash flows from financing activities**|||
|**Net cash providedbyfinancing activities**|||
|**Changeincash and cash equivalentsinthe period**|**73,261**|**128,175**|
|Cash and cash equivalents at the beginningofthe period|**128,175**||
|**Cash and cash equivalents at the endofthe period**|**201,436**|_128,175_|
|The notes on pages 17 to31form partofthese financial statements|||





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||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**Period**|**Period**|
||**ended31**|**ended31**|
||**December**|**December**|
||**2022**|**2022**|
||£|£|
|Grants|2,423,939|**2,423,939**|
||_Unrestricted_|_Total_|
||_funds_|_funds_|
||_Year ended_|_Year ended_|
||_30June_|_30June_|
||_2022_|_2022_|
||£|£|
|Grants|_413,991_|_413,991_|



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|_Unrestricted_|_Total_|
|---|---|
|_funds_|_funds_|
|_Year ended_|_Year ended_|
|_30June_|_30June_|
|_2022_|_2022_|
|£|£|
|_4,734_|_4,734_|





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|**Unrestricted**|**Total**||
|---|---|---|
|**funds**|**funds**|_Total_|
|**Period**|**Period**|_funds_|
|**ended31**|**ended31**|_Year ended_|
|**December**|**December**|_30 June_|
|**2022**|**2022**|_2022_|
|£|£|£|
|4|**4**||



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||**Grants to**|**Total**|
|---|---|---|
||**Institutions**|**funds**|
||**Period**|**Period**|
||**ended31**|**ended31**|
||**December**|**December**|
||**2022**|**2022**|
||£|£|
|Grant disbursals|12,750|**12,750**|
||_Grantsto_|_Total_|
||_Institutions_|_funds_|
||_Year ended_|_Year ended_|
||_30June_|_30 June_|
||_2022_|_2022_|
||£|£|
|Grant disbursals|_241,779_|_241,779_|





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||**Activities**|**Grant**|||
|---|---|---|---|---|
||**undertaken**|**fundingof**|**Support**|**Total**|
||**directly**|**activities**|**costs**|**funds**|
||**Period**|**Period**|**Period**|**Period**|
||**ended31**|**ended31**|**ended31**|**ended31**|
||**December**|**December**|**December**|**December**|
||**2022**|**2022**|**2022**|**2022**|
||£|£|£|£|
|Charitable activities|50,659|12,750|28,100|**91,509**|



||_ActiVities_|_Grant_|||
|---|---|---|---|---|
||_undertaken_|_funding of_|_Support_|_Total_|
||_directly_|_actiVities_|_costs_|_funds_|
||_Year ended_|_Year ended_|_Year ended_|_Year ended_|
||_30June_|_30 June_|_30June_|_30June_|
||_2022_|_2022_|_2022_|_2022_|
||£|£|£|£|
|Charitable activities|_46,776_|_241,779_|_3,466_|_292,021_|





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|||**Total**|
|---|---|---|
||**Activities**|**funds**|
||**Period**|**Period**|
||**ended31**|**ended31**|
||**December**|**December**|
||**2022**|**2022**|
||£|£|
|Staff costs|41,197|**41,197**|
|Events|1,622|**1,622**|
|Grantmaking|1,320|**1,320**|
|Consulting|6,520|**6,520**|
||50,659|**50,659**|
|||_Total_|
||_Activities_|_funds_|
||_Year ended_|_Year ended_|
||_30June_|_30June_|
||_2022_|_2022_|
||£|£|
|Staff costs|_20,143_|_20,143_|
|Events|_26,010_|_26,010_|
|Grantmaking|_623_|_623_|
||_46,776_|_46,776_|





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|||**Total**|
|---|---|---|
||**Activities**|**funds**|
||**Period**|**Period**|
||**ended31**|**ended31**|
||**December**|**December**|
||**2022**|**2022**|
||£|£|
|Depreciation|260|**260**|
|Recruitment costs|8,815|**8,815**|
|Web design|430|**430**|
|Advertising and marketing|2,534|**2,534**|
|IT costs|3,025|**3,025**|
|Accountancy|3,546|**3,546**|
|Insurance|360|**360**|
|(Gain)/lossofforeign transactions|(2,161)|**(2,161)**|
|Travel and subsistence|1,130|**1,130**|
|Entertainment|98|**98**|
|Governance costs|10,063|**10,063**|
||28,100|**28,100**|





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|||_Total_|
|---|---|---|
||_Activities_|_funds_|
||_Year ended_|_Year ended_|
||_30June_|_30June_|
||_2022_|_2022_|
||£|£|
|Recruitment costs|_673_|_673_|
|Web design|_9,060_|_9,060_|
|Advertising_and_marketing|_750_|_750_|
|ITcosts|_1,271_|_1,271_|
|Accountancy|_432_|_432_|
|Insurance|_373_|_373_|
|(Gain)/lossofforeign transactions|_(11,614)_|_(11,614)_|
|Governance costs|_2,521_|_2,521_|
||_3,466_|_3,466_|



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||**Period**||
|---|---|---|
||**ended31**|_Year ended_|
||**December**|_30 June_|
||**2022**|_2022_|
||£|£|
|Wages and salaries|**39,952**|_19,688_|
|Contributiontodefined contribution pension schemes|**1,245**|_455_|
||**41,197**|_20,143_|





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||**Period**||
|---|---|---|
||**ended31**|_Year ended_|
||**December**|_30June_|
||**2022**|_2022_|
||**No.**|_No._|
|Average numberofemployees|**3**|_2_|



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||**Computer**|
|---|---|
||**equipment**|
||£|
|**Costorvaluation**||
|Additions|**1,038**|
|At31December 2022|**1,038**|
|**Depreciation**||
|Charge for the period|**260**|
|At31December 2022|**260**|
|**Net book value**||
|At31December 2022|**778**|
|_At30 June 2022_||



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||**31**||
|---|---|---|
||**December**|_30June_|
||**2022**|_2022_|
||£|£|
|**Due within one year**|||
|Other debtors|**51**|_583_|
|Prepayments and accrued income|**2,263,433**|_267_|
||**2,263,484**|_850_|





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||**31**||
|---|---|---|
||**December**|_30June_|
||**2022**|_2022_|
||£|£|
|Trade creditors|**128**||
|Pension fund loan payable|**1,032**|_161_|
|Accruals and deferred income|**5,400**|_2,160_|
||**6,560**|_2,321_|



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|**Summaryoffunds**•**current period**|||||
|---|---|---|---|---|
|||||**Balance at**|
|||||**31**|
||**Balance at 1**|||**December**|
||**July 2022**|**Income**|**Expenditure**|**2022**|
||£|£|£|£|
|General funds|**126,704**|**2,423,943**|**(91,509)**|**2,459,138**|
|**Summaryoffunds**- **prior period**|||||



|||_Balance at_|
|---|---|---|
|||_30June_|
|_Income_|_Expenditure_|_2022_|
|£|£|£|
|_418,725_|_(292,021)_|_126,704_|





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||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**31**|**31**|
||**December**|**December**|
||**2022**|**2022**|
||£|£|
|Tangible fixed assets|778|**778**|
|Current assets|2,464,920|**2,464,920**|
|Creditors_due_within one year|(6,560)|**(6,560)**|
|**Total**|2,459,138|**2,459,138**|



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||_Unrestricted_|_Total_|
|---|---|---|
||_funds_|_funds_|
||_30 June_|_30June_|
||_2022_|_2022_|
||£|£|
|Current assets|_129,025_|_129,025_|
|Creditors_due_within one year|_(2,321)_|_(2,321)_|
||_126,704_|_126,704_|



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||31||
|---|---|---|
||December|_30June_|
||2022|_2022_|
||£|£|
|Net income for the period (as per StatementofFinancial Activities)|2,332,434|_126,704_|
|Adjustmentsfor:|||
|Depreciation charges|260||
|Increaseindebtors|(2,262,634)|_(850)_|
|Increaseincreditors|4,239|_2,321_|
|Net cashprovidedbyoperatingactivities|74,299|_128,175_|



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|||31||
|---|---|---|---|
|||December|_30June_|
|||2022|_2022_|
|||£|£|
|Cash|inhand|201,436|_128, 175_|
|Total|cash and cash equivalents|201,436|_128,175_|



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||||At31|
|---|---|---|---|
||At1July||December|
||2022|Cashflows|2022|
|||£|£|
||£|||
|Cash at bank andinhand|128,175|73,261|201,436|
||128,175|73,261|201,436|





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